Homegrown two- and three-wheeler company Bajaj Auto reported a 21 percent YoY decline in total sales of 2,85,995 units in January 2023 due to muted sales export performance.
The company had posted 3,63,443 units of total sales in January 2022, Bajaj Auto said in a release.
However, the Pune-based OEM registered a 16 percent growth in its domestic sales at 1,73,270 units last month as compared to 1,49,656 units in the same month a year ago.
The company’s exports saw a 47 percent decline at 1,12,725 units in January 2023 on the back of strong headwinds due to the difficult macroeconomic environment in most emerging markets.
“Industry retails in South Asia, Africa, and LatAm, were down by almost 30 percent in Q3 FY23 as compared to the same period last year,” Rakesh Sharma, Executive Director, Bajaj Auto said in a recent call.
The company’s total two-wheeler sales also dipped 25 percent YoY to 2,41,107 units during the month under review, down from 3,23,430 units sold in January 2022.
Domestic two-wheeler sales remained positive in January, increasing by 4 percent, or 1,40,428 units, year on year.
While export sales of commercial vehicles fell by 53 percent to 12,046 units last month, domestic sales increased by 132 percent to 32,842 units.
“The three-wheeler industry has recovered to 75 percent of pre-COVID levels, while we are now at almost pre-COVID levels. So, our performance is driven by the success of our products in the expanding CNG segment,” Sharma added.